Six industrial units in Sutterton, Lincolnshire totalling 15,934 sq ft were sold off a guide price of £900,000 in a deal negotiated by Carter Towler. The fully let, freehold premises have been purchased by BW SIPP Trustees Ltd.
Located on the Endeavour Way Industrial Estate close to Boston, the modern units are occupied by a range of businesses including printing company Newton Press, window blinds supplier Suntec Blinds and glaziers South Lincs Glass Shop. The current total income generated is £72,980 per annum and the average length of unexpired lease is 4 years.
Commenting on the deal Carter Towler director, David Towler said: “We are delighted with the successful conclusion of this purchase on behalf of our clients BW SIPP Trustees for a number of reasons. The properties themselves are in excellent condition and have very good tenancies in place. The location has the compelling combination of being out of town but also very accessible and near to conurbations such as Spalding, Boston and Peterborough. It’s an attractive and convenient place to work.
The properties at 1-6 Abbissgate range in size from 1832 to 4970 sq ft offering flexibility to potential tenants and the passing rents offer scope for growth.